The Central Bank of the Comros (Arabic: البنك المركزي لجزر القمر, French: Banque Centrale des Comores; BCC) is the central bank of the Comoros, a group of islands in the Indian Ocean.
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 Central Bank in Moroni | |
| Headquarters | Moroni, Comoros |
|---|---|
| Established | 1 July 1981[1] |
| Ownership | 100% state ownership[2] |
| President | Younoussa Imani |
| Central bank of | Comoros |
| Currency | Comorian franc KMF (ISO 4217) |
| Reserves | 180 million USD[2] |
| Preceded by | Institut d'Émission des Comores |
| Website | www.banque-comores.km |
Operations
editThe statutes of the BCC state that its board of directors shall have eight members who are chosen from the Comorian Government, the French Central Bank (Banque de France) and the French government. The post of Deputy Director of the Central Bank of the Comoros is held by a Banque de France official, who is responsible for monetary policy. Since 19 November 1999, all the central bank's official rates have been pegged to the Euro Overnight Index Average (EONIA) leading to a stabilisation of interest rate differentials with the euro.
The BCC applies a compulsory reserves system (30% of deposits) and a bank monitoring system. The headquarters are located in Moroni.
Banking system
editThe Comorian banking system is constituted of six different banks: the Central Bank (BCC); the Banque pour l'Industrie et le Commerce des Comores (BICC), the Banque de Développement des Comores (BDC), the Banque Fédérale de Commerce (BFC), the Exim Bank Comores SA and the Société Nationale des Postes et des Services Financiers (SNPSF). In addition, two mutual savings banks (SANDUK and MECK) play a role.
One of the roles of the Central Bank of the Comoros is to approve the establishment of new banks on all three islands of the Union of Comoros (Grande-Comore, Anjouan and Mohéli).
Governors
editThe governor is appointed for a five-year term.[3]
| Name | Took office | Left office | |
|---|---|---|---|
| Said Mohamed Mshangama | 1978 | 1981 | director[4] |
| Mohamed Halifa | 1981 | 1996 | [4] |
| Said Ahmed Said Ali | 1996 | 2002 | [4] |
| Ibrahim Ben Ali | 2002 | 2005 | [4] |
| Ahamadi Abdoulbastoi | 2005 | 2010 | [4] |
| Mzé Abdou Mohamed Chanfiou | 2011 | 2017 | |
| Younoussa Imani | 2017 | Incumbent | [3] |
See also
editReferences
edit- ^ "Central Bank of the Comoros". Retrieved 29 August 2012.
- ^ a b Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
- ^ a b "Central Bank of Comoros". Central Banking. 12 August 2015.
- ^ a b c d e "Banque Centrale des Comores - Histoire".
External links
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